Harsanyi Nails It On GM IPO

David Harsanyi writes a brilliant column on the recent GM IPO, touted by Obama as a "success." To co-opt a phrase, I guess it depends on what you mean by "success."

He concludes:

"But when we undermine the rule of law, ignore property rights, create moral hazards and destroy organic job growth to save a company that had been terribly managed long before the recession, no one should be bragging about success."

I couldn't have said it better.